LinkedIn QuickBooks Skill Assessment

LinkedIn QuickBooks Exam Answers 2024

  Linkedin Quickbooks test answers

In QuickBooks, what kind of account is an estimate?

• a liability account
• an asset account
• a non-posting account
• an income account

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Which of the following would be considered a current asset?

• Machinery and Equipment
• Accumulated Depreciation
• Cash in Checking
• Vehicle Asset

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What is the purpose of using subaccounts in the Chart of Accounts?

• They override the QuickBooks grouping so you can better customize your Chart of Accounts.
• They allow you to track departments or locations in a more efficient manner.
• They allow you to track finances in more detail by grouping accounts logically and showing a subtotal for those accounts.
• They allow you to show different account types together in one section of a report.

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What is the best way to track bills in QuickBooks to manage your cash flow?

• Keep your bills in a file by due date. Each day, prepare checks from the Write Checks window for the bills that are due.
• Enter a bill and then use the Pay Bills window to prepare checks when the bills are due.
• Keep an Excel workbook listing the due dates of your bills. Use the Write Checks window to prepare checks when the bills are due.
• Enter a bill and then use the Write Checks window to prepare checks when the bills are due.

QuickBooks Linkedin Quiz answers

What basis of accounting is used to record revenues and expenditures into the period in which they were incurred?

• accrual and cash
• cash
• hybrid
• accrual

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